Common use of Restrictions on Resale of Shares Clause in Contracts

Restrictions on Resale of Shares. For the purpose of any transfer or sale of any Shares issuable under this Agreement whether under Rule 144 promulgated under the Securities Act, a registration statement under Form S-8 or any other basis, notwithstanding anything contained herein, the number of Shares that may be transferred or sold shall not exceed the following amounts within any three month period: (i) if the Company’s shares are quoted on the over-the-counter market, including the OTCQB, 1% of the shares of common stock outstanding as shown by the most recent SEC Report published by the Company, , or (ii) if the Company’s shares are traded on a national securities exchange, the greater of clause (i) and the average weekly reported volume of trading in the common stock on a national securities exchange during the four calendar weeks immediately preceding the transfer or sale.

Restrictions on Resale of Shares. For the purpose of any transfer or sale of any Shares issuable under this Agreement whether under Rule 144 promulgated under the Securities Act, a registration statement under Form S-8 or any other basis, notwithstanding anything contained herein, the number of Shares that may be transferred or sold shall not exceed the following amounts within any three month period: (i) if the Company’s shares are quoted on the over-the-counter market, including the OTCQB, 1% of the shares of common stock outstanding as shown by the most recent SEC Report published by the Company, , or (ii) if the Company’s shares are traded on a national securities exchange, the greater of clause (i) and the average weekly reported volume of trading in the common stock on a national securities exchange during the four calendar weeks immediately preceding the transfer or sale,.